FEMS Crosses Critical Technical Indicator
In the case of First Trust Emerging Markets Small Cap AlphaDEX Fund, the RSI reading has hit 28.6 — by comparison, the RSI reading for the S&P 500 is currently 55.1.
A bullish investor could look at FEMS's 28.6 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), FEMS's low point in its 52 week range is $27.50 per share, with $39.33 as the 52 week high point — that compares with a last trade of $32.39. First Trust Emerging Markets Small Cap AlphaDEX Fund shares are currently trading down about 1% on the day.